Restrictive measures versus bitcoin China benefit world miners - The earthquake that has meant for cryptocurrencies Chinese measures continues to produce changes in this sector. The Asian giant has banned financial institutions from trading cryptocurrencies and has ordered the closure of mining activity in provinces such as Guangzhou, Inner Mongolia and Sichuan.

In addition to the almost immediate drops in value of cryptocurrencies, the next effect that could be given is the massive migration of the extraction of these virtual currencies. According to early reports, it is estimated that more than 90% of the bitcoin mining industry in China is closed, as the CNBC points out.

This stop in production in China, which accounts for between 65% and 75% of the world's bitcoin mining, throws a scenario in which miners from the rest of the world can benefit.

Restrictive measures versus bitcoin China benefit world miners

Mining bitcoins will be easier without Chinese miners at stake. Keep in mind that the mining process works through a network of computers that try to be the first to decipher complex mathematical problems in order to perform transactions. If they succeed, they are rewarded with bitcoins. But these are finite (21 million) and the reward is halved every 4 years.

The hash rate, which measures processing power, has dropped dramatically since China started pushing bitcoin, as can be seen in the chart below blockchain.com, which reflects a return to the levels of a year ago, after taking off to its peak last May. At that time, China began its first restrictions, with an immediate result on this rate.

Restrictive measures versus bitcoin China benefit world miners: Now, according to crypto experts quoted by US pay-TV economic, with so many miners unable to operate, the share of other miners from the rest of the world will increase, which could turn this activity into a much more lucrative business than it was before.

"As the hash rate on the network drops, the difficulty will adjust downwards and the hash rate that remains active will receive more for its proportionate share of mining rewards," crypto mining firm Foundry vice president Kevin Zhang has noted at CNBC. The less competition, the more profits.

Restrictive measures versus bitcoin China benefit world miners

However, we must take into account other factors that could reduce the impact of this new scenario on the profits of bitcoin miners. And is that the price of the largest cryptocurrency has been reduced to almost half of what it was worth a couple of months ago, in April, when each unit of bitcoin was valued above 54,000 euros. At the time of writing, it was slightly over 28,500 euros.

This price oscillation could lead to a rebound effect on the whole of the markets, as recently warned from Bankinter, which cataloged bitcoin and the rest of cryptocurrencies as the only structural risk that the markets could face in the coming months.

Restrictive measures versus bitcoin China benefit world miners

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Today the 2021 summer sales start in Zara, Stradivarius, Mango, El Corte Inglés or H & M with discounts of up to 50%: date and time you can access them

The summer 2021 sales start, which will arrive between today and tomorrow to the vast majority of Spanish fashion stores and department stores. The main fashion firms will offer juicy summer discounts starting this week.

Historically the summer sales began on July 1, but its liberalization and an increasingly competitive market has led to Spanish stores have advanced more and more each year the traditional summer promotion.

While some such as Springfield have already given the starting signal for the start of the summer sales 2021, between and today tomorrow will add the main brands in the sector that remain to arrive. Only in the case of some such as Primark (except in Madrid), the canonical date of the beginning of July is respected.

We go by parts, starting with the most desired: the summer sales in Zara start this Thursday 24 at 21: 00 in the app, at 22: 00 in zara.com and on Friday the 25th in the physical stores.

In the case of the summer sales of the rest of the Inditex group, they follow the trail of Zara. Thus, Bershka, Stradivarius, Uterqüe, Pull & Bear, Oysho, Massimo Dutti and Zara Home will start their summer sales 2021 the afternoon night of this Thursday, June 24 in the application and one or two hours later in their respective online stores. Tomorrow they will be available in physical stores.

For Pull and Bear the sales start at 18:00 in the application and at 20:00 on the web, with free shipping from 30 euros. Stradivarius follows the same schedule. However, these firms, together with Bershka, already offered previous special prices of up to 40% off.

In Uterqüe, the sales start in the application at 20: 00 and two hours later, on the web, the same as Oysho.

As for the sales of the Tendam group, Pedro del Hierro and Women's Secret these already started on June 9 on the web and the 10 in physical stores. In the case of the women's clothing store, with discounts of up to 70%.

In the case of the Cortefiel sales, these began on June 19, the 21 in the online case of Springfield, on June 22 for its physical establishments.

Other early bird brands in their online summer sales have been H & M, Decathlon or Mango: from this week you can enjoy discounts of up to 50% on a variety of clothing, accessories and sporting goods.

For H & M the summer promotions started on June 21 in stores and online and their discounts will last until August 22.

For its part, the summer sales of El Corte Inglés begin tomorrow in physical establishments with great discounts and promotions for its 50th anniversary, while today you can already buy with a discount in your online store. Between 10 and 16 June El Corte Inglés already offered the 30% discount online in private sales as an advance.

Bimba & Lola also already offers discounts on clothing, accessories or shoes, with discounts of around 40 and 50%. Pimkie also hung its sales poster on June 17, with discounts up to 60%

Primark will wait until July 1, except in the Community of Madrid, where the closure has opened on June 21.

It is one of the few firms that maintains the tradition of making the sales coincide with the premiere of the month of July, although it presents an exception in what refers to the stores of the Community of Madrid, because ten days before, on Monday, June 21, prices already fall.

In the case of marketplaces such as ASOS or Zalando, summer sales are already available in these e-commerce giants, also with discounts of up to 50% on a wide selection of products.

In terms of forecasts, the Spanish Trade Confederation (CEC) has a more optimistic outlook for the fashion and footwear sector compared to last year's levels. The employer expects a slight improvement in the summer sales campaign 2021, although far from the figures of 2019, which in this summer would be between 20% and 30% lower, according to The Independent.

From Harpers Bazar they collect that the sales will last until August 31 in Andalusia, Asturias, Castilla y León, Catalonia, Extremadura, Balearic Islands, Canary Islands, La Rioja, Murcia and Navarra.

In the Valencian Community the summer sales will last until September 5, and in the case of the later ones, the discounts will end on September 30 in Cantabria, Castilla La Mancha, Galicia and Euskadi.